Iran's veteran Oil Minister Bijan Namdar Zanganeh has said he plans to retire when President Hassan Rouhani's term ends in August following June elections, the ministry's official website reported Monday. Asked by reporters if he would be part of the next administration, Zanganeh said: "I won't accept even if they offer me the presidency," according to the oil ministry's official news website SHANA. "I will retire from public service but I will.
Published May 15, 2021, 9:38 AM
Filipino motorists will have to brace for mixed adjustments in pump prices next week, according to initial calculation of the oil companies.
As estimated, gasoline prices will potentially go down between P0.45 to P0.60 per liter depending on the product’s grade; while diesel prices may go up slightly by P0.15 to P0.25 per liter.
Kerosene, which is the other commodity being monitored weekly at the pumps, may not incur any cost movement this week, according to the oil firms.
The industry players are anticipated to adjust their prices on Tuesday (May 18); and the cost swings will be anchored chiefly on the Mean of Platts Singapore (MOPS), the index adopted by the oil companies in calculating their weekly price movements.
Saudi Aramco in Talks to Sell 1 Percent Shares, Beijing-Controlled Fund A Likely Buyer
Saudi Arabia plans to sell a 1 percent stake in Aramco, the world’s largest oil company. Based on the company’s market value, the potential sale could be worth $19 billion.
It is believed that the Chinese Communist Party’s sovereign wealth fund China Investment Co., Ltd. (CIC) is most likely to reach a deal with Aramco.
Crown Prince Mohammed bin Salman revealed some details in televised remarks on April 27.
“There are talks now for the acquisition of a 1 percent stake by a leading global energy company in an important deal that would boost Aramco’s sales in … a major country,” he said, “There are talks with other companies for different stakes, and part of Aramco’s shares could be transferred to the (Saudi) Public Investment Fund (PIF) and a part listed … on the Saudi bourse.”
Russian oil giant Rosneft said on Friday that its earnings were back in the black in the first quarter after oil prices recovered following Moscow’s produ